Bicycles are an environmentally friendly mode of transportation, with numerous variations including cargo bikes, electric bikes and mountain bikes. Bicycles are simple to operate and are regarded as one of the safest modes of transportation. Furthermore, major cycling organisations like Go out, Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club share important motivations for increasing consumer interest in cycling. They take part in a variety of sporting events, leisure activities, cycling rallies, and competitions designed to encourage customers to ride their bicycles. Furthermore, the cycling trend is well established in Europe and North America.
Bicycle Market Scope:
The report includes drivers to your advantage, restraints to help you overcome obstacles, and potential opportunities for the Bicycle market. The Bicycle market report also aids in understanding the consumer's interests and purchasing habits, how much your potential customers spend annually on the types of products or services you intend to offer, and the size of your business's potential market. The qualitative and quantitative data in the Bicycle market study help to understand which market segments and regions are expected to grow the fastest, market factors influencing the market, and key opportunity areas.
Bicycle Market Overview:
The report thoroughly examines the current Bicycle Market and forecasts performance over the forecast period. The report profiles key market criteria to help stakeholders make sound business decisions. The report provides an overview of the Bicycle market, highlighting standard topics and providing data that can be customised to meet specific needs. The report provides insight into the Bicycle market, assisting in the understanding of future product demand and competitiveness. Market Overview provides detailed information on market size, regional share, and benchmarking of market players. The report aids in providing comprehensive knowledge of the Bicycle market in order to redefine and fully utilise business strategies.
Bicycle Market size was valued at US$ 55.38 Billion in 2020 and the total Bicycle Market revenue is expected to grow at 7% through 2021 to 2027, reaching nearly US$ 88.93.
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Key Players:
Accell Group
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Bulls
Pedego Inc.
Benno Bikes LLC
Ribble Cycles
Cervélo
Merida industry co., ltd.
Olympus bikes
Scott sports SA
Specialized bicycle components, Inc.
Kona bicycle company
The report examines the Bicycle market's key players in terms of company size, market share, market growth, revenue, production volume, and profits. The Report delves into key players' growth strategies, such as strategic alliance formation and new product innovation. The report aids in understanding the pricing strategies of competitors in the Bicycle market so that pricing strategies can be analysed and developed accordingly.
Bicycle Market Drivers:
An expanding application base for bicycles in hiking and leisure sports, combined with an increasing number of biking events, is expected to drive demand for bicycles in both well-known and sports bicycles. The growing influence of celebrity endorsement and increased media coverage for such events are expected to fuel market growth. Furthermore, numerous governing bodies in European countries, including Cycling Ireland, promote road racing, travelling and recreational biking, tune racing, and off-road racing events, which are driving bicycle market growth. According to the Irish Sports Council, for example, investments made through Sport Ireland in the direction of Cycling Ireland increased from EUR 292.
Bicycle Market Segmentation:
The road bike segment has the highest revenue share in the bicycle market (41.1%) and is expected to remain dominant during the forecast period. This growth can be attributed to the fact that they are the most basic vehicles, requiring no complicated accessories, as opposed to racing, mountain, or other speciality bikes. In the coming years, the growing trend of people customising road bikes for specific purposes is expected to contribute to the growth of this segment.
Meanwhile, the mountain bike segment is expected to expand significantly over the forecast period as consumers, particularly millennials, continue to favour mountain biking as a mode of transportation. Adventure and entertainment. Furthermore, the number of women and children participating in sports is steadily increasing, which is likely to influence the segment's global growth. Furthermore, the development of new mountain bike routes, as well as increased media coverage of these events, will fuel the segment's expansion.
Bicycle Market Share Analysis:
The report examines key players in terms of their contributions to the Bicycle market. In comparison to other players, it provides the concept of expanding the business in the Bicycle market. In comparison to your company, the report includes key insights about market players based on revenue generation, product offering, and customer base. It depicts the growth, fragmentation, dominance, and merging characteristics of the Bicycle market.
Regional Analysis:
Factors influencing the Bicycle market in regions such as North America, Asia Pacific, the Middle East, Europe, and South America are discussed in the report. Legal barriers, geographic advantages, purchasing habits, and so on vary by region and country.
Key Questions answered in the Bicycle Market Report are:
- Which product segment grabbed the largest share in the Bicycle market?
- How is the competitive scenario of the Bicycle market?
- Which are the key factors aiding the Bicycle market growth?
- Which region holds the maximum share in the Bicycle market?
- What will be the CAGR of the Bicycle market during the forecast period?
- Which application segment emerged as the leading segment in the Bicycle market?
- Which are the prominent players in the Bicycle market?
- What key trends are likely to emerge in the Bicycle market in the coming years?
- What will be the Bicycle market size by 2029?
- Which company held the largest share in the Bicycle market?
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